Otis Worldwide (OTIS) Tops Q3 EPS by 4c, Offers FY Guidance
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Otis Reports Third Quarter 2021 Results
October 25, 2021 6:13 AM EDTFARMINGTON, Conn., Oct. 25, 2021 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) reported third quarter 2021 net sales of $3.6 billion with 8.1% organic growth. GAAP operating profit of $542 million was up $88 million and margin expanded 110 basis points to 15.0%. Adjusted operating profit of $566 million was up $63 million and margin expanded 20 basis points to 15.6%. GAAP and adjusted diluted earnings per share (EPS) of $0.77 increased 26.2% and 11.6%, respectively.
"Otis delivered another strong quarter with sales growth and margin expansion in both segments, a 3% increase in maintenance portfolio units and the third consecutive quarter of New... More
